Russia: Stable Outlook, Lower Growth Rates

Business › Economy ♦ Published: August 17, 2013; 13:36 ♦ (Vindobona)

The rating agency Fitch reiterates the “BBB” rating for Russia. The outlook remains stable. However, Russia´s GDP forecast had to be lowered.

Russia: Stable Outlook, Lower Growth Rates / Picture: © Vindobona.org

Fitch Ratings has affirmed the long-term foreign and local currency issuer default rating at “BBB”. According to Fitch, Russia records “strong sovereign and external balance sheets”. Russia´s public debt quota came at 10.5% at the end of 2012. Net foreign assets amounted to at 24% of GDP in 2012. This year, Russia´s expected budget deficit is 1.0% of GDP.

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